Markets Injected with Vaccine Furore

Tuesday 10th November 2020The markets have scarcely had time to respond to the news that Joe Biden is the next President of the United States than we’re it with the (potentially bigger) news that Pfizer have successfully completed stage three of their COVID-19 vaccine trials, with an astonishing 90% success rate. NAB’s Ray Attrill talks through the market’s response, which includes rising equities in the US and Europe, higher bond yields, a bounce in oil prices. Phil Dobbie asks whether this will alter the approach taken by the Fed and other central banks, starting with the RBNZ tomorrow.

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